Examinership

Decide the best option for your company

Where a company is struggling with excessive debt, but has a solid underlying business, examinership should be considered. Examinership gives companies breathing space to find fresh investment and put a proposal to its creditors. At Deloitte Ireland our examinership experts can help you to decide the best option for your company.

What is an Examinership?

Examinership is a process used by a company in financial difficulty to reach a binding agreement with its creditors to pay back all, or part, of its debts over an agreed timeline.

The process is overseen by the Circuit or High Court, who provide the company with protection from its creditors during the examinership period. This protection gives the company breathing space to find fresh investment.

The new Companies Act has made Examinerships significantly cheaper and more flexible, with the result that they are now a realistic option for struggling SMEs to consider.

Who Should Consider Them?

Companies that are insolvent with large debts

Companies needing to restructure

Companies experiencing trading difficulties

Companies under pressure from their creditors

Companies wanting to avoid liquidation

How Examinership Can Work

The company applies to court for protection from its creditors and the appointment of an Examiner

The Examiner draws up proposals to put to the company’s creditors in the form of a Scheme of Arrangement

The company sends out the Scheme to its creditors, together with notice of a creditors meeting

Meeting held where the Examiner explains the proposals in the Scheme

Creditors vote in favour of scheme

Court approves scheme

Debts written down as per the scheme’s proposals

The Advantages

Large write downs of debts can be achieved

Leases can be re-negotiated/ disclaimed

Company continues trading

Directors stay in control of the company during the examinership

Gives the company time to be restructured

Avoids liquidation

Protection from creditors – a receiver or liquidator cannot be appointed

Lower costs if Circuit Court used

How We Can Help

Our examinership experts can guide you through every step of the process to ensure that the Examinership has the best possible chance of success and that the process goes quickly, smoothly and cost effectively.

Contact us to arrange a consultation with our team of expertsCall: 01 417 2625Email: wabaxter@deloitte.ie

Contact us

Director - examinerships and liquidations

Contact me for a free and confidential consultation. Warren is our restructuring services director within corporate finance and is an expert in examinerships, schemes of arrangement and liquidations. ... More

Partner - Restructuring Services

David Van Dessel is a partner in our restructuring services at Deloitte. As a Partner of Kavanaghfennell, a leading Irish specialist insolvency and advisory firm which was acquired by Deloitte in June... More

Director, Restructuring Services

Andrew Byrne, previously of kavanaghfennell, manages a team of professionals looking after a wide range of cases including Corporate and Personal Asset Receiverships, Creditor, High Court and Members ... More

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